Asaf Silberstein Sells 2,000 Shares of Semtech Co. (NASDAQ:SMTC) Stock

Semtech Co. (NASDAQ:SMTC) COO Asaf Silberstein sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $70.00, for a total value of $140,000.00. Following the completion of the transaction, the chief operating officer now directly owns 76,417 shares of the company’s stock, valued at $5,349,190. The trade was a 2.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Semtech Stock Performance

NASDAQ SMTC opened at $75.00 on Friday. Semtech Co. has a one year low of $18.72 and a one year high of $75.75. The business has a fifty day moving average price of $61.68 and a 200 day moving average price of $47.17. The company has a market cap of $5.68 billion, a P/E ratio of -5.75 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The business had revenue of $236.80 million during the quarter, compared to analyst estimates of $232.89 million. During the same period in the prior year, the business earned $0.02 earnings per share. The business’s revenue was up 17.9% compared to the same quarter last year.

Analyst Ratings Changes

SMTC has been the subject of several analyst reports. UBS Group initiated coverage on shares of Semtech in a research note on Friday. They issued a “buy” rating and a $85.00 target price for the company. Craig Hallum upped their price objective on shares of Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler restated an “overweight” rating and set a $75.00 target price (up from $60.00) on shares of Semtech in a research report on Tuesday, November 26th. Stifel Nicolaus upped their price target on Semtech from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Benchmark raised their price objective on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.09.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SMTC. Inspire Investing LLC grew its holdings in shares of Semtech by 119.7% in the fourth quarter. Inspire Investing LLC now owns 22,053 shares of the semiconductor company’s stock valued at $1,364,000 after purchasing an additional 12,016 shares during the period. SG Americas Securities LLC grew its position in Semtech by 643.7% in the fourth quarter. SG Americas Securities LLC now owns 57,316 shares of the semiconductor company’s stock worth $3,545,000 after acquiring an additional 49,609 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Semtech by 12.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,788 shares of the semiconductor company’s stock valued at $482,000 after purchasing an additional 870 shares during the last quarter. Oak Ridge Investments LLC purchased a new position in shares of Semtech during the 4th quarter worth $2,146,000. Finally, Friedenthal Financial acquired a new stake in shares of Semtech during the 4th quarter worth about $755,000.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.